Rental Property Investor · Brooklyn, NY · Member since 2018 · 75 posts · 31 votes
Hello,
I decided i will invest in Albany NY in 2019. I zeroed in on three zip codes 12202, 12206 and 12208. Where can i go (online) to find out more about these areas. I would love to chat with anyone who is from the area about things that only someone with boots on the ground would know like rents for 1,2,3 and 4 bedroom units. Also what areas should i stay away from? What towns are all the universities in? Why are all of the buildings so old? Last but not least, i don't know what i don't know so please fill me in on that too.
@Meshael Eady if you've narrowed down your locations that much already, it sounds like you've done some research ahead of time! What's drawing you specifically to these zips? You've picked South End, West Hill, and Albany Med neighborhoods. 12208 will tend to be much higher prices, rents, and better condition (very generally speaking) - it is a large zip, so depends where you're looking within. All real estate is hyper local.
@Meshael Eady if you've narrowed down your locations that much already, it sounds like you've done some research ahead of time! What's drawing you specifically to these zips? You've picked South End, West Hill, and Albany Med neighborhoods. 12208 will tend to be much higher prices, rents, and better condition (very generally speaking) - it is a large zip, so depends where you're looking within. All real estate is hyper local.
@Adam Nye The only research I’ve done was going on Redfin and searching Albany zip codes until i found the ones with the most Multifamily properties on the market. I agree 12208 properties are higher in cost but the numbers still work for me. I run the numbers on 1 Multifamily property everyday. I will take you up on that offer and will be reaching out to you soon with questions. Thanks for your help.
Hey, Meshael there is a site I would not normally recommend but Topix has a lot of local banter and you can learn a lot about the local areas. It's essentially a local message board where people complain about things that you'd not see or hear about anywhere else.
I'm my name is Pam Swanigan, a new investor in the Capital Region, and interested in expanding my network. I'm also new to BiggerPockets. I'd be interested in speaking with you to see how we may be able to collaborate. Although my focus is Colonie, Schenectady, Amsterdam areas, I'm happy to talk.
Hi Meshael, I’m a newbie looking to invest in Albany. I am looking into Albany, Schenectady, and undecided about Troy. I would live to know how your investing has gone up until now?
Hi Steven, our goal is to buy rental properties and create cash flow. Primarily multi-units. My husband and I are interested in buy and hold, flips (multi or single family) and even short term rentals (we have experience in this field).
We are interested in Albany, Schenectady and the surrounding areas.
Additionally, we are also looking in the Scranton, PA area as well.
Thanks so much for your interest. Any advice you can offer is greatly appreciated.